Gap Auto Assurance

GAP PLUS Coverage Helps Protect more than "Upside Down" Car Buyers!

After a home, a new car is the largest purchase many of us ever make. With such a big part of your financial worth riding on four wheels, a totaled or stolen vehicle may break not only your heart; it could break your budget, too. As many drivers have learned only after it's too late, a standard auto insurance policy might not provide all the financial protection you need. If the value of your car is less than the balance of your auto loan, you're "upside down" on your loan, and there's a gap that isn't covered. That difference is what a special type of protection, called gap coverage, is designed to cover. 


  • Loan balance after one year $15,000
  • Value of car after one year $10,000
  • Insurance settlement $10,000
  • Deficiency balance $ 5,000
  • GAP pays $ 5,000
  • You owe $0 

Without GAP coverage, you'd be responsible for the $5,000 deficiency balance. Do the numbers to see if GAP is right for you or get a quote on GAP Insurance today. 

Do you need GAP coverage?  Not everyone needs GAP. It may be worth it to you if:

  • Made only a small down payment or none at all.
  • Financed your vehicle for a long-term (more than 60-months).
  • Drive a lot, which reduces a vehicle's value more quickly.
  • Rolled over negative equity from an old vehicle loan into the new loan.

Benefits Include:

  • Protects your credit rating
  • Eliminates or reduces “out of pocket” expenses for the remaining loan balance after the insurance settlement
  • Provides $1,000 if you finance your replacement car with us
  • We offer a "Free Look" period of 60-days where the borrower can receive a full refund for any reason.
  • Offers a reduced price compared to car dealers; only $420
  • Allows the cost to be financed with the loan.   ________________________________________________________________________________

$1,000 ​GAP Plus Waiver  

In the event that the covered collateral is deemed a total loss, you may be eligible to receive an additional waiver from us.  In order to receive this additional waiver, you must finance your replacement vehicle with us within 90-days from the date the vehicle is determined to be a total loss. 

*Subject to certain exclusions and benefit limitations.  Please refer to your GAP Addendum or Certificate for all terms and conditions you will receive at closing.  Most types of vehicles are eligible, and you can generally include GAP PLUS coverage in your vehicle loan payment.
As a Thank You for purchasing GAP, you will receive:

Auto Deductible Reimbursement

Pays up to five hundred dollars ($500) per loss (UNLIMITED losses per year) when a Loss is filed and paid by the auto insurance company for a Covered Auto the Member owns or leases evidenced by the title or registration, AND insures under an Auto Insurance Policy designated the Member as the Named Insured for up to three years.

TotalRestart - Auto Replacement Benefit

The last thing you want to think about right now is a total loss on your new vehicle... TotalRestart Goes Beyond Traditional Gap!  TotalRestart provides potential credit toward the replacement cost of your car-based on the original value-if it's stolen or damaged and declared a total loss.

The TotalRestart Protection benefits:

  • Help borrowers replace total loss vehicle with one similar to the one originally purchased.
  • Provide borrower coverage beyond just forgiving the loan.
  • Minimize uncertainty over need for GAP
  • Protects down payment and hard-earned equity.

The TotalRestart Protection benefit will be calculated as the difference between the covered vehicle purchase price3 at the TotalRestart contract effective date; less the covered vehicle’s actual cash value (ACV)3, up to the maximum benefit amount selected.


3 Subject to Maximum Coverage Limit selected.